U.S. Treasury Secretary Scott Bessent joins ‘Fox & Friends’ to discuss the shutdown’s financial impact on the economy and outlines how rising wages and tax relief could help jump-start recovery.
From new factories to bigger paychecks, Treasury Secretary Scott Bessent says the year ahead will be a “blockbuster,” promising relief for American wallets.
“I say that you are going to feel it,” Bessent said Wednesday on the Fox News Channel.
“I was just down in my hometown of Charleston, South Carolina on Friday, and this new Boeing plant is opening up. That’s 1,000 new jobs that the president has brought back.”
Bessent also visited a rare earth plant in South Carolina, where previously laid-off workers are seeing new opportunities — 800 construction jobs and, he said, 300 permanent positions that could eventually grow to 3,000.
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Treasury Secretary Scott Bessent addresses a press conference after the trade talks between the U.S. and China concluded, in Stockholm, Sweden, on July 29. (Magnus Lejhall/TT News Agency/AFP/Getty Images / Getty Images)
“Thanks to President Trump, a new factory has moved in so, as we bring these trillions of dollars of investment into the U.S., they’re all starting to break ground now. I would have loved to be able to snap my fingers, have these facilities going. [But] it takes time,” Bessent said.
Bessent added that the “Big Beautiful” tax bill provides major incentives for companies to build factories in the U.S. and create American jobs, while also delivering tax relief for tipped workers, overtime pay and Social Security income.
Those provisions, Bessent said, will lead to “big refunds” that amount to another direct benefit for working families.
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Rep. Jim Clyburn, D-S.C., from fourth left, Stephanie Pope, president and chief executive officer of Boeing, Scott Bessent, U.S. Treasury secretary, South Carolina Gov. Henry McMaster, Jeff Shockey, executive vice president of global public policy an (Sean Rayford/Bloomberg via Getty Images / Getty Images)
Bessent also addressed speculation that President Trump may offer tariff rebates to certain households, outlining what the plan could look like.
“The president’s talking about a $2,000 rebate, and that would be for families making less than, say, $100,000,” he said.
Trump mentioned the idea in a Truth Social post Sunday, blasting critics of his tariffs as “fools” and declaring, “A dividend of at least $2,000 a person (not including high-income people) will be paid to everyone.”
Bessent said the idea is still under discussion, but noted that, regardless of the outcome, several other measures are already aimed at putting more money back into Americans’ pockets.
“I think 2026 is going to be a blockbuster year,” he said.
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FOX Business’ Amanda Macias contributed to this report.